Cheong Wa Dae announced on Thursday that President Moon Jae-in has named Park Seong-jin as the head of the new Ministry of SME and Startups.

Park is a professor of engineering from Pohang University of Science and Technology and also serves as the CEO of Postech Holdings.

Park Seong-jin, nominee for head of the new Ministry of SME and Startups. (Cheong Wa Dae)

The new minster nominee is scheduled to attend a confirmation hearing led by a parliamentary committee before his appointment becomes official. Parliamentary approval is not required for Park’s appointment.

The new Ministry of SMEs and Startups was newly established on July 26 as part of the Moon administration’s ongoing government restructuring. Park’s official appointment will mark the 19th and last new member of the president’s first Cabinet.